Read our International Student Loan frequently asked questions to learn more about the international student loan process, required documents, and borrower responsibility.
The maximum annual loan amount is $20,500. You may borrow a lesser amount if necessary.
In order to be eligible for the KGI International Loan, you will need to complete a KGI Master Promissory Note and KGI International Student Loan Entrance Counseling.
We will disburse your KGI International Student Loan within 10 days to the start of each semester. Student Accounts will then have 14 days to process a refund should you be expecting one.
No, the KGI International Student Loan will be disbursed ten days prior to the start of the term and will not be available any time before that point.
The interest rate for a given academic year is equal to the Wall Street Journal prime rate as of the preceding April 1 plus 5% with a minimum interest rate of 8.5%.
A 2% origination fee is added to the principal amount for each disbursement of the KGI International Student Loan. A fall semester disbursement of $10,250 would have an origination fee of $205. The total principal amount owed by the student is $10,455; the total amount disbursed to the student’s account is $10,250.
Students will be expected to begin repayment of their KGI International Student Loan six months after the date they cease to be at least a half-time student or have graduated from KGI.
Returning students will be required to complete a KGI International Student Master Promissory Note every year in order to be eligible for the KGI International Student Loan.
Please send your completed KGI International Student Loan Master Promissory Note to firstname.lastname@example.org.
No, only KGI International Students receiving the KGI International Student Loan for the first time need to complete KGI International Student Loan Entrance Counseling.
You have the option to pay down your monthly fee. You will be mailed a monthly statement with the interest amount. Once you have a local address, please notify the KGI Financial Aid Office or your statements will be mailed to the international home address you entered on your promissory note.
You can pay your interest online to Heartland ECSI by creating an account. Please note: until you have a social security number you must contact Krisztal Rangel at The Claremont Colleges Services (TCCS) at 909.621.8271 to create your online account.
Yes, you can off your loan without a prepayment penalty.
Financial Hardship Deferment – You are permitted one deferment for financial hardship for no more than six months.
In-School Deferment – You may defer your principal payments while enrolled at least half-time at an institution of higher education. Any unpaid accrued interest is capitalized and added to the amount owed when any deferment ends and repayment begins.
The Student Loans Department in the Financial Services Department at The Claremont Colleges Services (TCCS) is the administrator for repayment of the KGI International Student Loan program.
Contact: Krisztal Rangel
Yes, we encourage students to apply for both loans in order to help cover their institutional and non-institutional costs associated with attending their chosen program.
Please visit our Private Loans for International Students link on our Funding Your Degree Page to view the different lender options available.
The lender will send the funds to Student Accounts, who in turn will verify with the Financial Aid Office to disburse the funds. Whether the funding is an electronic transfer or a physical check, the timeframe is contingent on the lender’s processing time.